Retail, restaurant sales ticked up in September
Several retailers issued positive reports Tuesday, including electronics chair Best Buy, Kohl’s, Abercrombie & Fitch Co. and Dick’s Sporting Goods
Associated Press
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Michigan football’s sign-stealing fines will cost school more than $30M, athletic director says
The Indianapolis-based NCAA announced in August a series of punishments for a sprawling scandal that has loomed over the Wolverines for two years.
Rahal Letterman Lanigan adds Mick Schumacher to IndyCar lineup
The son of seven-time world champion Michael Schumacher is leaving Formula 1 for IndyCar after 43 career starts in F1.
Struggling Kohl’s names 4th CEO in as many years in attempt to staunch sales slide
Kohl’s has more than 40 stores in Indiana, including 14 in the Indianapolis area.
FAA preparing for busiest Thanksgiving in 15 years
In addition, AAA projects 1.3 million more travelers will be on the roads than last year, pushing the total number of people traveling by car to at least 73 million.
IPO market’s red-hot year has been cooled by the shutdown and more caution among investors
The S&P 500 is still up more than 12% for the year and the tech-heavy Nasdaq is up more than 15%.
Google, US government battle over future of internet advertising
The courtroom showdown will pit lawyers from Google and the U.S. Department of Justice against each other in closing proceedings focused on the complex technology that distributes millions of digital ads across the internet each day.
List of large companies making layoffs continues to grow
Sizable layoffs have continued to pile up—raising worker anxieties across sectors. Here are some of the largest job cuts announced recently:
Bubble fears ease but investors still waiting for AI to live up to its promise
A stellar earnings report from Nvidia eased worries that the AI craze propelling the stock market and much of the economy for the past year is on the verge of a massive collapse.
Investigators say UPS plane that crashed in Louisville, killing 14, had cracks in engine mount
Federal investigators released dramatic photos Thursday of an engine flying off a doomed UPS cargo plane that crashed two weeks ago in Kentucky.
Advocacy groups urge parents to avoid AI toys this holiday season
Critics say AI toys are often marketed as educational but can displace important creative and learning activities.
Walmart raises profit expectations as more Americans hunt deals
While other retailers dial back projections, the nation’s largest retailer—and Indiana’s largest employer—raised its financial outlook Thursday after its strong third quarter, setting itself up for a strong holiday shopping season.
Verizon cutting more than 13,000 jobs as it works to ‘reorient’ entire company
A spokesperson confirmed that the layoffs announced Thursday account for about 20% of the company’s management workforce, which isn’t unionized.
US employers added surprisingly solid 119K jobs in September, government says in delayed report
The increase in payrolls was more than double the 50,000 economists had forecast.
GE Appliances inks $14M in contracts with Indiana suppliers amid production shift from China
GE Appliances announced Thursday it has awarded more than $150 million in new contracts to U.S.-based suppliers as a result of its decision to shift production from China to Louisville.
White House drafts order directing Justice Department to sue states that pass AI regulations
The proposed executive order comes after a split among Senate Republicans in July killed a proposal backed by the White House to block all state artificial intelligence regulation.
What’s next now that Trump has signed bill releasing Epstein files
Now that the bill has been signed by the president, there’s a 30-day countdown for the Justice Department to produce the files.
Labor Department won’t release full October jobs report, a casualty of the 43-day federal shutdown
Wednesday’s announcement means the September jobs numbers will likely get extra scrutiny Thursday.
US trade deficit drops 24% as Trump’s tariffs reduce imports
A drop in imports and the trade deficit is good for economic growth because foreign products are subtracted from the nation’s gross domestic product.
Federal Reserve releases new guidance for bank oversight in move praised by industry
Michelle Bowman, the Fed’s vice chair for supervision, said the principles will “sharpen” the central bank’s focus and build “a more effective supervisory framework.”